Jan 21, 2017|
Automatically Generated Transcript (may not be 100% accurate)
Broadcasting from the top thirteen seventy studios. You're listening to financial lines with your host Suze said Blackburn and Elizabeth. We are giving away a red line report as fiduciary is Blackburn and James are required to work in your best interest. Helping you until own retirement in today's economy so stay tuned as they bring UN informative approach to your retirement. Each and every week. And now your host sue said blackbird and Elizabeth James. Happy new year. Often it's Tuesday at Blackburn with financial was in my cohost Elizabeth and James we're both. Fiduciary financial planners and I'm in and speak Brooke quietly because my guess is you probably stayed out late last night. So we don't we ought to make it shows enjoyable as possible yeah and maybe you are sitting at home today enjoying this holiday and T about all the things on year to do list for 2017. And so we have got a treat for you we are going to be. Talking about. As to do. Action items for your finances you're not talking about a New Year's resolution are you. I was trying to sneak that in there without it sounding like a diet. Well. Anytime I go on a diet I immediately want a box of Oreo Cookies it never fails so eerie get out so today. We want to explain T use some success stories we wanna energy issued to some. Wonderful families. We're not teaser real names have you're listening nowhere can then protect the innocent. But we wanted to introduce you to what the wave we work with feelings it's very powerful. And we have done some incredible work to make sure that people are prepared. For retirement you know I get a Christmas card. Last week that blew my mind. Is a couple that. We've been taking care for like five or six years and her husband died about four months ago. And we were able to it they did a trust with us and who's with the attorney that we work with and so there was absolutely no probate everything was fine. They were able to do shoes able to grieve the feeling is illegal to they know exactly where their incomes can come from. They know with their taxes are going to be they know how much withholding they they've got all of the stuff taking care of she gets sick. And I got a car to Elizabeth and has said. He's dead and Elizabeth thank you so much could be gotten through this without it. While that's a pretty powerful story and we have we have got. Tens of yeah we do hundreds. And thousands. I can't stop myself yes we have several. X success stories like that as unfortunate has. This example if someone passing a way but you know that's what we we deal with Biggio families and estate planning and financial planning. Sets apart a bit so we have to have those discussions. And planning around. You know a spouse passing away and how is a survivor protected. And what's what does that mean for the rest informally we'll how to reduce the Elizabeth what do we do for a couple to make sure that there are gonna work. Well that's exactly what the analysis were talking about today and we are giving away so you wanna give us a call 512. 2159030. And we are talking specifically about this financial analysis. Ours we like to call the Red Line report. And it's going to illustrate just that if there is a risk and red line. At any age which would represent running out of money which is everyone's biggest fear actually. Our retirees stay the biggest fear is out living their money. So one of the success stories only share with uses beautiful sweet family. The husband is in his late 7075. K and his wife is 72. They've lived a full life traveled all over the world have beautiful kids with grandkids say. It took a mall in Disney crew is always doing fun stuff but guess what. All that stuff is expensive and cost money. And so they came into my office and what began to become clear is the stress that they were under Kazan to about 600000 left. And their lifestyle. Was rich and they were gonna run out of money at their current draw down in like in 78 years. And they were already there are stock broker had them in high risk and they came to me. Because the losing money in these last two years and withdrawing from their accounts. Was like a double whammy. And it was starting to scare them to the point where they're like wow we've got to meet with a retirement specialists this isn't working. These are you just highlighted some of the risks that we see and with clients of ours we have to address and that's a big one. The investment risk and the sequence ever turned risks. That retirees gonna face when they are experience saying. I'm down years and there investments and marketing investment. At the same time while they are distributing. Or withdrawing money from their portfolio. That's a scary thing. So we wanna give you a late Christmas present a New Year's Eve gift of let's skidded in order let let us help you. Get things in order we're gonna give you a cup of coffee sit delicate for an hour and organized this. We need to look at the accounts that you have we need to ask you some very very. Wonderful questions. Like what is your legacy plan do you have one in place. What are you gonna do if one and he gets sick what happens if wanna be passed away. What's the purpose. Of these accounts. How is your relationship. With fewer stockbroker. Do you have a relationship with the stock broker that you feel confident. If there's a downturn they're gonna give you a phone call they're gonna rebalancing gonna make sure that your okay. In good times and bad times. I would challenge you listening today. If you do not have a written. Income plan from your financial professional or your stockbroker. That you absolutely need to call us today at 512215. Nine. Do you have enough in time to make it throughout retirement and where is that income going to come from it in which you cannot win. What is immense tax efficient distribution strategy and that's the thing with this couple and talking about the 75 year old gentleman and his wife that 72. They were withdrawing from the wrong account. And that tax efficiency was gonna that's like a double whammy it is and losing money in the market so there's no there's no tax efficiency we're drawn from the Iran account and we're too risky. And they're in their seventies. So we you're able after we looked at expenses we really boil down what they are spending money on. And actually help them do a budget on no that's a horrible word on today trip and we'll hear about that today. But I'll rephrase that we'll do a conscious spending plan I'm not asking you and jot down everything you buy. But I am asking you to be conscious of your spending. Because if you wanna make sure that you don't run out of money especially if you if you you know right could get a red line. We need to build a model something no help peel. So call us at 5122159. B thirty and again I'm late Christmas gift is a red line report. We want you to come and and sit down with us let's look at everything on the table of what you have where you are or could do shares were acting your best interest were independent. So we've got the global products if that's something that needs to happen. But we're not gonna talk about that we wanna give you report for no charge so you have to Collins 512. 2159. B thirty and remember simple start financial wise and the rest are otherwise. This is all about making sure you don't run out of money into retirement this. As talk radio since at Blacksburg post a financial wise radio and she's now taking the retirement based information on radio show to do with her new class retirement elevated take a deeper dive with Sims at into today's relevant retirement topics and create a plan for reaching long term financial goals we are living into our late eighty's and ninety's that means thirty years without a paycheck this is Suzanne Blackburn. Learn to play well retire well live well learn how to fight back and where and when it comes to taxes long term care costs and inflation come front and avoid planning mistakes it's now time you had this kind of information available to you so called capstar financial about Suze that's upcoming class retirement elevate. Five point 2215 not 8030 joins Suzanne Blackburn for retirement elevated and concordia university Tuesday's February 21 and 48. Or Thursdays February 23 in March 2 630 to 9 PM. Welcome back to financial wise. With C said Blackburn and Elizabeth James. Welcome back to financial wise I am so excited to be talking to you on New Year's I mean this is a lot going on appear like knee. You watch that ball 10987. Anyway you get it. It was fun but guess what we're giving into a new year and it's time to make some plants okay. And what the offer is that we have here capstar and financial wise. Is we wanna give you a late Christmas gift. It's a red line report the first five people that call us at 5122159. B thirty will get that for absolutely. No charge Elizabeth gonna talk about a family that actually took this up on that. Yes this is. A great. Opportunity to share a Q a recent success story a couple. That we've worked with him were able to provide this red line report. Or more formally it's our confidential financial analysis. And it outlines. Just that where you might have their risk of possibly running out of money. And this in this cup all. Jacking Mary we have a lot of Jackie marries you talk about on the radio. But in this exam saw this cut all hate to pick on my doctor clients but this is another doctor client they're so easy to pick times. Because you they've got everything right they've been great sabres have worked tar. In the Max out their 401K. And their IRAs and yet to edit our spreadsheets and everything figured out. And they come it's really went to needing help on. What do I do now when I'm looking for retirement and I gonna have sufficient funds to last your retirement. What if someone were to pass away what if someone were to get sick what do I do with all these initial funds and I've gotten non and we're able to talk to him about. Really which she cannot win and what I'm what are we going to set up to you self. Fund our retirement. Before regret turnaround so securities we can maximize that. What's going to be immense tax efficient. I know we just finished doing a Roth conversion and a partial conversion for the Stanley because. We were able to help them maximized. For the first time. Not having W two then come that we were able to capitalize and take advantage. These low. Tax Iraqi years and do some small Roth conversions and that was a big deal. You know I remember when he came in and and he didn't come and his wife the first time these kinds chicken sat in amber that. And he partied then to two or three other financial people some of the Marlins radio station and you know let. He he really like to team approach that we had. And he was impressed with the fact that we were deep healing out this plan of which account when that no one else does. That's exactly right this red line report or the confidential financial analysis. This really you know sealed the deal so to speak for. On this couple because it was the first time. Where planner has taken a comprehensive. Planning approach should suit their financial lives not just you know my investments ever hear my insurance ever hear. You know not even talking about so security your taxes but really this comprehensive financial plan. Was what was the differentiating their value to this couple. And wage. Gave them the this feeling or our security now that they were gonna be able to retire replace their and come. And have all the pieces of their life. Planned out with regards to low income planning well and I remember when he was and then this was a second appointment that we had after we had come up with. You know kind of the cost that they used paying and he a lot of variable annuities and remember that. And one of the things that was his main concern in if you're listening right now this may be your main concern. If you wanna know when do I take in come from the investments that I bought ten years ago. What is the purpose of the account that I have now that I bought when I was 45. I love that we where really big on purpose here it capstar and you know we we ask a lot of questions but you know there for good resent you because we. We always ask what is the purpose what are you trying to get this investment this account to do. And if you're like a lot of people that we see. Yeah your objectives or reasons are purposes are. Yeah a very different and they were ten years ago right and you might have a collection of accounts are collection have investments. And yeah we were able to help this couple specifically. They had annuity and insurance products. From years past. And we are able to analyze and go through. How to get the most value out of them which ones are we going to. Keep been saved for in Conway certain you know whats the best value to get out of these investments. You might have and not really do anything about at this point. Well the other the other real big issue with those of you there listening today. Is what are going what's gonna be my tax burden in retirement aegis. You've got this W two income common in common in your experts in your specific field. You've done a great job building your career and raising your families and put kids through college and weddings and all that kind of super maybe. You wanna retire. And plan that stuff. Held by the way we're still gonna buy vehicles every few years were still you know all that has to be modeled in your retirement income plan. And it takes more planning than jest you might hear from the stock workers out there well. Yeah to plan for 80% of today's income in retirement. I don't know about you but in retirement every day is Saturday and that's that's what I spend the most money act I have to say so. You know it's not as just a blanket yes statement or one size fits all that we're gonna plan for 80% of today's income in retirement. That's you know you're just planning to fail in that case so. You've got to call us at 5122159030. If your financial plan with your stockbroker is well here's 80% that incumbent today's dollars and you get a 4% withdraw our rate. And here's your portfolio of mutual funds. You've got columns 5120215. And I 8030. A tea this is a really big conversation. And when we start talking about this. It I I think about all the different families. That are sent in this Christmas cards and we've we've gotten and then there's no greater joy than Ian somebody. Say things like. You know we could have made it without you we don't worry about our money anymore. We are out plan with their families and taken care of grandkids and I am not worried about the stock market anymore I'm not worried about. How we built the financial house we know is sustainable we know we get sick. We're going to be okay. And that's a great example because you just mentioned the financial house. But it's absolutely true that you know everyone's financial house is gonna look different depending on what your needs are depending on what. You know your retirement looks like if you already have a pension coming in from your company for the rest your life we your financial house is gonna look a lot different. And somebody with no pension and and solely has to rely on their personal savings. I mean it fury sit here and you've got income coming in and everything's in risk in the market what do you Dylan. Do you really need to have all that risk happening. If I mean there needs to be a matrix of what the with the draw rate vs what's the interest rate we need to learn that's a big conversation that we're gonna have with you. Exactly right we'd go about things. With the strategy. How much income do you need how much so therefore how much. Do you need your portfolio to generate which is gonna deter men and tell you. How much risky. Why take on more risk than you need TO you know retirement. So back to this couple that came in you know and I can sit ice I was there on the first meeting Elizabeth and I work as a team. With many times and we're sitting with a couple and so we sat there with them we listened to their concerns. Elizabeth got this wonderful background of eight years and a big bucks brokerage house so she can really speak that language a stockbroker rate eased the that I don't like at all and then I come from more of an estate planning. That ground of looking at legacy looking at how what happens if something happens to one appeal. And making sure that we transfer assets if that's what you so choose. In a way that's appropriate for your family. And so we work as a team with hits really special and I'm happy to do it so call us 5122159. View our financial life. And the rest are otherwise let's talk retirement planning in today's economy over lunch. It's a date with caps are tiny Intel. This is about taking a power lines and making it lunch with power retirement power doing capstar financial for retirement planning in today's economy. Suzanne Blackburn and Elizabeth James or the power house financial planners behind this link to learn workshop. You might already know them from their show financial i.'s radeon top thirteen seven deep. Now but the power of great financial wisdom to work for you and your retirement future the workshop is complementary to the information is a 100% invaluable. So joint capstar financial Tuesday march 7 grade hills trail location at twelve noon for retirement planning at today's economy lunch with power again that's Tuesday march 7 at twelve noon. Get. 5122159830. To register lunches complementary that seating is limited. Well today 5122159835. Point 22159830. Welcome back to financial wise with C said Blackburn and Elizabeth James. Welcome back to financial wise we're gonna wrap up his last five minutes with Q thank you so much for such a fabulous year with few. It's a new new dawn new year 2017. And what we wanna give music incredible gift. Of planning we wanna sit with you it literally takes an hour of your time we're gonna ask some very. Wonderful questions about your life so that we can do report for you for absolutely no charge it's a red line report. And that red line report as we've been discussing. Will give you the peace that you need to know if you're gonna ran out of money in a certain age and we're gonna shake the three. Meaning we're gonna look at what if you get sick with his attacks implication with the market's crash all the different things that can happen you. And we're gonna see do you red line. And you'll have that report we Hannity it's absolutely no charge only for the first five collars so Collison 512. 2159. Come in and lettuce to do that because what it's gonna do is gonna tell you how much you've been paying in fees. If it's appropriate in the risk that you have. A B got the accounts in diversified stuff that really is diversified not a bunch of overlapping. Managers doing exactly the same thing. And so I want a highlight we are just talking today about. On this red line report there were offering and I want to you just flipped through and talk about her recent success story that we work. I was sharing with you and they earlier segment and I've got one of these Frontline reports in my hand and more industries and coupled. And this really this report this analysis this red line report. It really was the game changer for this family and it. Was the first plane and it was a comprehensive. Report. Looking at all of the things that you need to pay attention to retirement and I'm not flipped through some of the information. I'm looking over the first Peja and our various assets that the client has and that's if you're listening out there and you've got you have got to 401K at work and I've gotten an irate over here from my at my old job and I got this account over here and you know you know who you are you've got a collection. Like he counts all over the place out. We see that all the time this is going to poll all of you are. Your accounts from everywhere. And show it they look clay. Working together for you. We're gonna talk about your incoming information and your projected retirement date we knew we are thinking about retiring. We're gonna have polling your Social Security information and talked to you about what's the best strategy in timing. When TU. Take advantage of that. We're gonna have to look at the different. County you have when that he retirement accounts vs non retirement I cannot look at the different tax treatments because. Again and retirement all about. That after tax income what is that amount that you get to key for the courage restore that's after tax income. We're gonna take a look at your. Current level of risk of verses. What you're perceived level of risk is or what he what is necessary retirement so how are your account allocated again. Across all of your accounts out there. And then we're going to look at what rate of return is needed to you sustain you through retirement. Addicts that expense worksheet which were against gay day. A conscious spending plan or our budget that really to have an awareness of what your outflows are you were gonna capture all of here. In comes and then we've got to take a look at all of your. Outflows. And say definitely make sure you give us a call 512021590. Parity. And when you come and meet with us it's a no obligation again is just our commitment of your time. Really an hour of your time to sit down have a cup of coffee with us. Go through all this information then I was just I'm describing. And it's going to generate this wonderful. Year by year cash flow. Analysis and retirement where it's going to highlight if there is a red line anywhere a risk of possibly running out in retirement. And once we have the perfect plan we have to do it danced to shake it stress it for. Spouse dying early someone getting sick getting Iran having a medical spending on. Or even the market not cooperating so we really have to know. What your risks are and retirement. We really want you have a great new years and you're gonna have fun in these next few days with family having dinner is. It gonna be contemplating what 2017. Looks like Robbie may be looking backwards a little what about 2016 if you're like me. I wanna reviewed 2016. Something I wanna keep doing some things are really wanna stop doing right maybe a little more exercise a little sugar. But this is a chance for you to take advantage of having a plan so you can make good decisions in your future so call us 512. 2159. Some folks are financial lives and the rest are otherwise. 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